Advice from MN Cup Mentor: Rick Brimacomb

Throughout the 2015 MN Cup, we will be featuring our wonderful judges and mentors. Meet Rick Brimacomb, Founder, Brimacomb & Associates and Co-Founder of Sherpa Partners.

Rick Brimacomb is a mentor for MN Cup. Hear what he has to say about MN Cup and his advice for potential entrants.

Tell us about yourself – who are you, what do you do?
Rick has been a venture capitalist, advising and investing in emerging companies, for more than twenty years.  He founded his own advisory practice, Brimacomb & Associates, in 2005.  Brimacomb & Associates assists business leaders in refining strategies, assembling resources and securing funding. 

Previously, he co-founded the Sherpa Trek venture capital fund, an early-stage venture capital firm investing in technology and life science companies.  Rick is the founder of Club Entrepreneur, co-founder of The Network Connect, co-founder of MOJO Minnesota and a past President of the Minnesota Venture Capital Association.

What is your favorite part about being involved with MN Cup?
Working with creative and highly motivated people and learning about all the unique and innovative ideas being created in our community. 

What can startup companies gain from entering the competition?
Outside perspective and business solutions from many unique points of view. 

What are the three most important components of a great business plan?
Clarity.  Emotional connection. Market awareness. 

What advice do you have for companies entering the 2015 MN Cup?
Keep your eyes and ears open. Be a sponge and soak everything up.  You don't have to act on all the advice and information, but at least incorporate it into your thinking.